Data Management Platform Market to Expand at a CAGR of 14.1% by 2032 to Value USD 7 Billion – Report by MRFR
Research Reports
Aug 23, 2023
According to a Comprehensive Research Report by Market Research Future (MRFR), The Data Management Platform Market is anticipated to increase from USD 3.1 billion in 2023 to USD 7.0 billion by 2032, growing at a predicted CAGR of 14.1% from 2023 to 2032.There is an enormous increase in demand for detailed client information so that specialized goods and services can be offered to them based on their actions, preferences, and likes.
Key Companies in the Data Management Platforms Market include
- Oracle Corporation
- Adobe Systems Inc
- KBM group LLC
- Rocket fuel INC
- Crux digital INC
- Lotame solutions inc
- Turn INC
- Neustar INC
- SAS institute
- SAP SE
- Cloudera INC
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Data management platforms gather a lot of information about customers who use a variety of services and goods on a daily basis. In order to build a profile of a user that includes their likes, actions, and preferences for goods and services, users like marketers, ad agencies, and publishers retain this data. These profiles are tailored to each user, and multiple adverts for services and goods are then subtly pushed to users via internet ads, social media sites like Facebook and Instagram, and different search engines like Chrome. Thus, by locating, keeping, and analysing the data saved in data management platforms, advertising firms and marketers are making use of consumers’ habits, likes, and choices to generate business. Once their habits and behaviours have been examined, personalised material such as products they would like.
As a result, these profiles are built for each client, and data storage platforms are used to store each customer’s data. Personalised adverts are sent to customers using the data, which helps them increase sales and convert those profiles into clients.
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Segmentation
First party, second party, and third-party data types make up the three main market segments for data management platforms. In comparison to other platforms, such as second party and third-party data management platforms, first party data management platforms are anticipated to earn the highest share of revenues.
The area is broken down into web analytics tools, mobile apps, mobile web, CRM data, POS data, and social networks, according to Data Sources.
The most popular social media platforms used by businesses to advertise their services and goods are Facebook, Instagram, and Twitter. These social media networks gather data and employ it to market products to users.
Ad agencies, marketers, and publishers make up the market segments for data management platforms based on end users. Advertising agencies utilise DMP to send the most personalised adverts to the targeted customers. DMP is a tool used by marketers to promote their goods across numerous countries and areas. DMP is a tool used by publishers to publish items specifically for clients.
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Regional Insights
North America, Europe, Asia-Pacific, the Middle East & Africa, and South America are the regions into which the study divides the market. The market for Data Management Platforms is predicted to be dominated by North America. The first companies to employ data management platforms to offer services and solutions to marketers and ad agencies around the world are those in the North American region. For instance, North America is predicted to account for 34.3% of global market revenue in 2022. The region’s data management platform market is anticipated to be driven by the existence of companies like Adobe, Oracle Bluekai, and others. The market in the region is anticipated to expand due to the increase in online shoppers and internet usage in North America.
Additionally, it is anticipated that in 2022, Europe would account for 24.8% of the market. The market is anticipated to expand in the European region due to rising mobile data subscriptions and dramatic increases in internet usage. According to the International Telecommunication Union, 82% of the region’s entire population used the internet in 2019. This makes Europe the region with the most internet usage. There has been a 57% increase in mobile data subscriptions since 2013 on average.
Major market companies are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for data management platforms. To expand their global footprint, market participants are also undertaking a variety of strategic activities.
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